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JOB PURPOSE:

To  manage the collection of VAT and preparing the monthly VAT payments for FAB Properties as required by Government VAT guidelines.

KEY ACCOUNTABILITIES:

This section shall not be customised to reflect accountabilities which may be unique to one role. Please use Section 5 to capture any accountabilities specific to the role which are over and above those mentioned in this section.

Generic Accountability

Strategic Contribution

• Ensure effective cascading of the functional strategy into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

People Management

• Manage the effective achievement of assigned objectives through the leadership of the Leasing department by setting of individual objectives, managing performance, developing and motivating staff to maximise sectional performance.
• Lead the talent development initiatives for the assigned department, collaborating with technical /discipline experts and thereby ensure the availability of talent to fit business requirements.
• Act as a role model and drive adherence to organisational values and ethics by employees of the assigned department to foster a value driven culture within the bank.
• Budget and Financial Planning
• Manage the preparation and recommend the department budget and monitor financial performance versus the budget while ensuring all sectional activities are conducted in line with the approved guidelines. 

Policies, Systems, Processes & Procedures

• Manage and ensure effective implementation of Real Estate functional policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements, are fulfilled while delivering a quality, cost -effective service.  

Continuous Improvement

• Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reductions.

Reporting 

• Ensure that all unit reports are prepared timely and accurately and meet  FAB requirements, policies and quality standards.  

Job Specific Accountabilities

To hold overall responsibility for the implementing and monitoring of the VAT framework in coordination with external consultants, Group Tax Department and various other business departments.

• Analyse all business transactions and assess the VAT treatment required in line with FTA regulations.
• Monitor the VAT collection and payment process continuously to identify any opportunities for improvement and without comprising data accuracy.
• Seek to enhance the operational software with regards to VAT requirement in line with VAT Law, Group Tax Department and other business enhancements.
• Provide the VAT information required for the property to support landlords with the filing of the VAT return to FTA for both residential and commercial properties.
• Assist landlords to claim input VAT by providing expenses related to commercial properties.
• Visit landlord’s offices on a regular basis to provide guidance and information on the UAE VAT framework, and the requirements for compliance.
• Manage the collection and consolidation of VAT TRNS (VAT Registration Certificate Numbers) for landlords and tenants, before updating the UBS system.
• Determine the computing transition period for VAT on all active contracts and communicate the outcome to respective tenants.
• Handle any VAT related enquiries from landlords, tenants and respective business departments.
• Prepare the monthly Mismak Group VAT return with 100% accuracy
• Handle the FTA audits carried out in Mismak Group.

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

• Functions within the framework and boundaries of Group policies as well as overall organisational and governance frameworks.
• Authorised to take decisions as per the approved authorisation matrix

QUALIFICATIONS & EXPERIENCE:

Minimum Qualification

• Bachelor’s degree in Accountancy is required. A Master’s Degree in Finance is advantageous.

Minimum Experience

• Minimum of eight years’ general Accounting experience is required with three years in a supervisory role.